I am on look out for some leasehold conveyancing in King's Cross. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in King's Cross - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Having checked my lease I have discovered that there are only Seventy years remaining on my flat in King's Cross. I need to get lease extension but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the landlord. On the whole an enquiry agent should be helpful to conduct investigations and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing King's Cross.

I've recently bought a leasehold flat in King's Cross. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in King's Cross with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in King's Cross can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
• Many landlords or Management Companies in King's Cross charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in King's Cross.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? King's Cross leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
• Some King's Cross leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
• You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in King's Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

You certainly can. We can put you in touch with a King's Cross conveyancing firm who can help.

An example of a Lease Extension case for a King's Cross residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.

What makes a King's Cross lease unacceptable for security purposes?

Leasehold conveyancing in King's Cross is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Royal Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

I bought a 1 bedroom flat in King's Cross, conveyancing formalities finalised in 2003. How much will my lease extension cost? Comparable flats in King's Cross with an extended lease are worth £200,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease expires on 21st October 2081

With just 55 years unexpired the likely cost is going to span between £30,400 and £35,200 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.